Contact:Mary Beth Fisher

For Immediate Release

May 22,2002

IURC APPROVES CHANGE IN FUEL
CHARGE FOR LOGANSPORT ELECTRIC

Today, in Cause No. 38705-FAC 55, the Indiana Utility Regulatory
Commission approved a request by the Logansport Electric Utility to change its
fuel cost charge for July, August and September 2002.

The
average customer, using 1,000 kWh per month, should experience an increase of
$1.67 per month on his or her electric bill.This is a 2.7% increase.

Evidence
submitted in this case supports the company’s claim that Logansport Electric
has made every reasonable effort to provide electricity to its retail customers
at the lowest fuel cost reasonably possible.Logansport Electric is still operating under restraints from the
Environmental Protection Agency and must purchase coal with low sulphur
content.The company says this has
increased costs.